Claremore, OK Entrepreneur Gets SBA Loan to Buy Sylvan Learning Center Franchise

Borrowing money to invest in a Sylvan Learning Center franchise? First Bank Of Owasso has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sylvan Learning Center franchise? If so, here's a 2001 SBA franchise loan that you should know about. First Bank Of Owasso was the lender and the entrepreneur was based in Claremore, Oklahoma.

SBA Loan Borrower

SYLVAN LEARNING CENTER OF CLAR
CLAREMORE, OK 74017

SBA Loan Lender

FIRST BANK OF OWASSO
102 W 2ND AVE
OWASSO, OK 74055

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611691 - Exam Preparation and Tutoring

Loan Approval Date

7/24/2001

Loan Approval Gross Amount

$126,600

Loan Approval from the SBA

Of the total $126,600 loan amount, the SBA guaranteed $107,610.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $126,600 loan. Remember, where there is a will, there is a way!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

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SBA Participating Banks in Owasso, Oklahoma

Oklahoma SBA 7A Lenders